Midwest

CHICAGO — Branson Airport LLC dipped into reserves to cover its July 1 debt-service payment on $113 million of unrated tax-exempt bonds as it struggles to meet traffic projections for the privately built and operated Missouri facility.

CHICAGO — Moody’s Investors Service downgraded the Chicago suburb of Oak Lawn to Aa3 from Aa2, warning that the village faces a series of fiscal challenges after two years of operating deficits.

CHICAGO — South Dakota’s Regional Health today will offer $57 million of fixed-rate revenue bonds that will be used to fund various capital projects and refund a chunk of fixed-rate debt to achieve savings.

CHICAGO — Michigan environmental officials are hoping to divert up to $200 million from $1 billion of voter-authorized clean water bonding to replenish a bankrupt brownfield cleanup program.

CHICAGO — St. Louis voters will cast ballots Tuesday on a $155 million bond referendum to finance improvements at the city’s public schools.

CHICAGO — Chicago faces a record $654.7 million deficit as work begins in earnest on a $6.3 billion 2011 budget, while expectations of a slight improvement in revenue collections can’t keep pace with growing ­personnel costs.

CHICAGO — The Cuyahoga County, Ohio, Public Library will enter the debt market for the first time Wednesday with a $75 million borrowing.

CHICAGO — Ohio will price $50 million of taxable general obligation bonds Tuesday to finance bonuses for veterans of recent wars in the Middle East.

CHICAGO — All five southeastern Wisconsin school districts involved in a failed investment scheme tied to funding their non-pension retiree health care trusts are reneging on their moral obligation pledge to repay asset-backed notes issued by the trusts and sold to Depfa Bank Plc.

Wisconsin insurance commissioner Sean Dilweg has formed a nine-person council of advisers to support his efforts to rehabilitate Ambac Assurance Corp.